Plus   Neg

QinetiQ Sees High Single Digit Percentage Revenue Growth For Full Year

QinetiQ Group plc (QQ.L) said it anticipates full-year order intake to be strong, ahead of the prior year, and expects high single digit percentage revenue growth compared to last year.

Further, the company noted that it maintains its medium to long-term operating profit margin guidance of 12%-13%. However, QinetiQ expects the short-term margin to be about 100bps lower, driven by COVID-19 disruption, increased investment on its digital transformation programme and evolution of the company's business mix with the acquisition of MTEQ and growth of EDP.

The company also expects this trajectory on revenue growth and 11%-12% profit margin to continue into fiscal 2022. This guidance is expected to result in the Group's fiscal 2021 "results being modestly ahead of current average consensus expectations."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Best Buy Co., Inc. is offering more tech deals at Black Friday prices starting Thanksgiving. Further, Cyber Monday offers will be available all week long, starting Saturday, November 28. The electronics retailer said the Thanksgiving offers for brands such as Apple, Dyson, KitchenAid and more will be available at BestBuy.com since its stores are closed for the day. Walt Disney Co. plans to lay off 32,000 workers in the first half of fiscal 2021 as the media and entertainment giant struggles to operate amid the worsening coronavirus pandemic. In a filing with the Securities and Exchange Commission, the company said the expected cuts will be primarily at Parks, Experiences and Products. Supermarket chain Whole Foods Market, owned by e-commerce giant Amazon, has recalled packaged popcorn chicken with sweet chili sauce citing the possible presence of undeclared shellfish or shrimp, an allergen, the U.S. Food and Drug Administration said. The affected products were sold across 26 Whole Foods Market locations in Northern California and Reno, Nevada.
Follow RTT